Kudos "adrift", you saved the day for me. There are LOTS of answers out there to this question, and yours is by far the best! Its really too bad that DbContext doesnt support the Refresh directly? This would seem to be a very common pattern to want in multitier apps. I was getting close to just reading the object back in, and copying what changed before I saw your answer :-)
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JoeNov 16 '11 at 6:57

In summary though, you might try calling something like the following:

dbContext.Entry(someEntityObjectInstance).Reload();

However, someone else noted that this doesn't refresh navigation properties, so if you have to worry about refreshing navigation properties as well, you either need to Reload() all of the navigation properties as well or you will need to Detach() or Refresh() after casting to IObjectContextAdapter, or maybe just recreate your DbContext.

In my case, I frankly decided it was best just to recreate the context and re-Find() the entity: